One of the most bullish China watchers among big foreign banks is close to being appointed chief economist at China’s central bank, according to a person with direct knowledge of the matter.
Ma Jun, chief China economist at Deutsche Bank AG, is in the “final process” of taking the job, a newly created position at the research department of the People’s Bank of China, the person said.
Mr. Ma, who has been based in Hong Kong, didn’t respond to requests for comment. He also goes by Jun Ma in his English-language reports.
A former economist at the International Monetary Fund and World Bank, Mr. Ma is considered one of the most optimistic forecasters on the Chinese economy. While many predict that China’s economy will slow toward its slowest pace in decades, around 7.5% this year, Mr. Ma thinks the benefits of China’s economic reforms and a rebound in trade with Europe and the U.S. will propel it to 8.6% growth.
This year “will mark the beginning of a series of aggressive structural reforms that will enhance China’s growth potential,” Mr. Ma wrote in a Jan. 3 report. “In particular, we expect reforms to boost private investment in sectors such as railway, new energy, environment and health.”
He has also strongly supported the PBOC’s policies. The Chinese central bank has been pushing a slew of reforms aimed at giving the market a bigger role in setting interest and exchange rates, and making it easier for Chinese citizens to invest overseas and for foreign capital to come in.
In January, when the PBOC was granted an award from a European trade publication as the world’s “Central Bank of the Year,” he concurred. “China’s overall macro condition today is one of the best in history,” he said in a note praising the award.
Mr. Ma, who worked as a researcher at a think tank affiliated with the State Council, China’s cabinet, has frequently been invited by Chinese leaders to consult on economic matters. Last month, he was the only analyst from a foreign investment bank to attend a meeting chaired by Premier Li Keqiang focused on setting this year’s economic policies, according to a statement posted on the Chinese government’s website.
Another sign of his popularity within China: He has nearly 1.4 million followers on Weibo, the popular social-media service.
Mr. Ma’s potential appointment at the central bank comes as China is trying to lure back Chinese who have made their mark overseas. He holds a Ph.D. in economics from Georgetown University.
If named as the PBOC’s chief economist, Mr. Ma would be primarily responsible for analyzing and forecasting China’s economy and advising the central bank in setting its monetary and other financial policies.
